FX.co ★ CARTON | USD/CHF

USDCHF

When I analyzed the daily chart of the USDCHF currency pair, I saw that the trend was bullish. This is indicated by the position of the EMA 50 which is above the EMA 100. When the EMA 50 is above the EMA 100, this signals that the market is in a strong uptrend. Additionally, I also note that the price has managed to break an important resistance level around 0.90863. This breakout shows that buyer pressure is quite strong, as the price managed to break through a level that previously provided an obstacle to further increases. After the breakout, I see the price moving up, although there may be periods where the price moves sideways or consolidates. Despite the consolidation, I noticed a bullish candle on the daily chart. This shows that buyer pressure is still dominant, even though prices are consolidating. This bullish candle also provides an indication that this currency pair has the potential to continue its uptrend. Thus, based on my analysis, I come to the conclusion that the USD/CHF currency pair has a bullish bias in the daily timeframe. I see the potential for further price increases, with the next possible resistance level being tested around the price of 0.92260. USDCHF ANALYSIS H1

A strong bullish trend was seen in the USD/CHF currency pair after it managed to penetrate a significant resistance level at the price of 0.91485. These breakouts signal that buyer pressure is strong and are often an early indication of a significant trend change. After the breakout, the price continued to rise and formed a swing high at the price level of 0.92210 in the previous trading session. However, after reaching the highest level, the price experienced a downward correction. This correction is a natural phenomenon in financial markets, where prices tend to move up and down in a wave pattern. During this downward correction, the price was seen retesting the resistance level that had previously been successfully penetrated, namely around 0.91485. At the same time, the level of 0.91485 also acted as support after the breakout, indicating confirmation that the previously broken resistance has turned into support. It should be noted that during this downward correction, the price was also seen retesting the 100 EMA, which also provided additional confirmation of the support level around 0.91485. My trading plan will consider entering a long position after confirmation that the price has retested the support level around 0.91485 and the EMA 100. My target is to re-reach the previous high around 0.92210, where I hope the bullish trend will continue. For risk management, I will place a stop loss around 30 pips below the support level at 0.91485, so that I can control the risk if it turns out that the price moves opposite to my prediction.